ERC vs QQQ: Correlation
How closely do Allspring Multi-Sector Income Fund (ERC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERC and QQQ?
Over the past 3 years, ERC and QQQ moved with a correlation of 0.50, which is moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 98.3 %².
QQQ is close to the least connected end of ERC's tracked universe, ranking #18 of 22. Correlation aside, the last 12 months split them widely, with QQQ ahead by 19.6 points (+6.7% versus +26.3%). One caveat on sizing: QQQ is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ERC vs QQQ: side by side
| ERC (Allspring Multi-Sector Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.7% | +26.3% |
| 5-year return | +11.4% | +95.4% |
| Volatility (ann.) | 10.1% | 19.6% |
| Beta vs S&P 500 | 0.41 | 1.28 |
| Max drawdown (3Y) | -9.8% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.7 | – |
| Dividend yield | 9.33% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | ERC | QQQ |
|---|---|---|
| 2022 | -17.8% | -32.6% |
| 2023 | +4.9% | +54.9% |
| 2024 | +6.1% | +25.6% |
| 2025 | +11.1% | +20.8% |
| 2026 | +5.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERC and QQQ good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ERC and QQQ?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.50 over the last year and 0.53 over 5 years.
Is QQQ a good diversifier for ERC?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/erc-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/erc-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ERC correlations · QQQ correlations
